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Haines Watts Bristol Phone icon 0117 974 2569

Companies are sharing more information digitally along their supply chains. This connectedness means that your company is likely to become a target for cybercriminals.

A cyber attack can cost an SME between £20,000 and £60,000 per incident –which brings major implications for a business that may only turn over £1m a year. Some business owners either don’t believe it can happen to them because they are not an ‘online’ business or, when it does, are shocked by how many of their systems it shuts down. Doing nothing is simply not an option. But, at the same time you don’t need to spend thousands to protect your business.

Many attacks still rely on involvement from a member of staff, who may be tricked into clicking on an attachment or responding to a fake email. It’s easy to copy a corporate email layout. Attackers may use a similar domain name to that they are impersonating simply replacing the letter ‘w’ with ‘vv’, for instance, in what is known as ‘spoofing’. This type of incident can result in unsuspecting employees transferring funds at the request of someone impersonating a supplier or even an employee. Building awareness is vitally important.

Unfortunately, once an organisation falls into such a trap, they often find that they end up being targeted by fraudsters multiple times.

3 simple steps to robust cyber-security:

  1. Train your people: they are both your greatest strength and your biggest weakness. They need to be aware of risks, question any suspicious communications and be reassured that they should act on their suspicions.
  2. Practise good IT: make sure your antivirus software is up to date, allow your operating system to automatically accept patches, keep an eye on network speeds and make sure your data and systems are properly backed up.
  3. Plan for the worst: it’s worth asking yourself some important questions now – such as, in the event of an incident, how quickly could your IT provider send over replacement equipment? What calm and reassuring message will you send to customers and suppliers? What alternative systems and processes could you put in place?

 

How we can help

Should you require any further information around cyber attacks or cyber security please get in touch.

We will be hosting a “Cyber Security” Seminar on Thursday 30th May in conjunction with Haines Watts Technology to help you identify threats and how to protect against them.

Click here for more information and to book your place today.

Want to know more? Call us on 0117 974 2569 or email bristol@hwca.com

About the author

Geoff Speirs

Geoff has worked in Bristol for many years and has extensive experience in advising both owner managed businesses and not-for-profit organizations.  Geoff is also authorized to deal with probate and estates. He specializes in delivering excellent service to his clients and is proactive in seeking ways to provide help and advice.

Geoff’s role is to help maintain the quality of service delivered by the Bristol office and build relationships in the Bristol business community.

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